Rejlers (REJL-B) Q4 2025 earnings summary

Executive summary

• Net sales for 2025 reached SEK 4,741.0 million, up 7.0% year-over-year, with Q4 sales at SEK 1,310.7 million, up 7.1%.

• EBITA for 2025 was SEK 377.7 million, with a margin of 8.0%; Q4 EBITA was SEK 120.0 million, margin 9.2%.

• Organic growth excluding currency effects was 5.8% in Q4 2025; full-year organic growth was 6.5%.

• Earnings per share before dilution declined to SEK 2.88 in Q4 2025 and SEK 8.74 for the year.

• Board proposes a dividend of SEK 5.25 per share.

Financial highlights

• Operating profit (EBIT) for 2025 was SEK 302.1 million, up from SEK 288.2 million.

• Net financial items were SEK -51.6 million, impacted by revaluation of acquisition liabilities.

• Cash flow from operating activities was SEK 312.8 million, down from SEK 407.7 million in 2024.

• Net debt/EBITDA stable at 1.2x; equity/assets ratio improved to 52.8%.

• Investments in subsidiaries and businesses totaled SEK 118.6 million, mainly for Risk Pilot AB and Spring Advisor Oy.

Outlook and guidance

• Strategic focus on organic growth, fee increases, and aligning pricing with market levels.

• Targeting SEK 8 billion turnover and at least 10% EBITA margin by 2030.

• Continued transformation and focus on sustainable business strategy targeting 2030.

• Good utilisation and higher fees contributed to growth.

• Continued strong demand expected in energy and infrastructure; cautious optimism for industry and real estate.